Loan Annual Cost Rate Calculator
Calculate the approximate annual percentage rate (APR) and cost based on loan amount, monthly interest rate, term, and upfront fees.
Formula
Installment = P × r × (1+r)^n / ((1+r)^n - 1). Approximate annual cost = Annual compound equivalent of the IRR monthly rate.
Source / method note
The calculation uses the installment loan formula and an approximate APR/IRR approach that accounts for the impact of upfront fees. The official annual cost rate may differ based on the bank's regulatory method.
Legal / official rate note
This tool is for informational estimates. For the exact annual cost rate, the bank's official offer form, payment plan, and contract should be based.
